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Benchmarking service is launched next week
By David Ainsworth, Third Sector, 8 October 2008
A new online benchmarking tool will allow charities and social enterprises to see how they measure up against their peers for free.
The Acid Test programme was developed by social enterprise support specialist The Camberwell Project. Organisations that use it can anonymously measure The cost-effectiveness and strength of their finance and governance functions.
The project has been tested with social enterprises across Yorkshire before a launch on 16 October.
Dawn O'Keefe, director of the project, said that it provided charities not only with an effective measure of their own strengths and weaknesses, but also with data for funders.
"It's especially for organisations that are trying to take a major step forward," she said. "It will enable them to measure how well prepared they are for that step, and see how investors might view them.
"It looks at data from at least two years' accounts. It combines governance and finance, and it enables users to compare themselves against industry benchmarks."
The Acid Test takes about 30 minutes to complete and can be found online at www.theacidtest.co.uk.
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